Pettee Investors Inc. Has $15.13 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 12th, 2023

Pettee Investors Inc. raised its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 97,600 shares of the company’s stock after purchasing an additional 495 shares during the period. Johnson & Johnson accounts for approximately 7.2% of Pettee Investors Inc.’s investment portfolio, making the stock its biggest position. Pettee Investors Inc.’s holdings in Johnson & Johnson were worth $15,128,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Arbor Investment Advisors LLC raised its holdings in shares of Johnson & Johnson by 2.3% in the 4th quarter. Arbor Investment Advisors LLC now owns 2,697 shares of the company’s stock worth $476,000 after purchasing an additional 61 shares during the period. Sierra Capital LLC raised its holdings in shares of Johnson & Johnson by 0.6% in the 4th quarter. Sierra Capital LLC now owns 10,036 shares of the company’s stock worth $1,773,000 after purchasing an additional 61 shares during the period. MTM Investment Management LLC raised its holdings in shares of Johnson & Johnson by 0.5% in the 1st quarter. MTM Investment Management LLC now owns 11,283 shares of the company’s stock worth $1,749,000 after purchasing an additional 61 shares during the period. Lockerman Financial Group Inc. raised its holdings in shares of Johnson & Johnson by 2.4% in the 4th quarter. Lockerman Financial Group Inc. now owns 2,684 shares of the company’s stock worth $474,000 after purchasing an additional 62 shares during the period. Finally, OneAscent Financial Services LLC raised its holdings in shares of Johnson & Johnson by 3.3% in the 1st quarter. OneAscent Financial Services LLC now owns 1,986 shares of the company’s stock worth $308,000 after purchasing an additional 63 shares during the period. 67.57% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the completion of the transaction, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at $10,549,440. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Peter Fasolo sold 20,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $170.32, for a total value of $3,406,400.00. Following the completion of the transaction, the vice president now directly owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the completion of the transaction, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at $10,549,440. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,163 shares of company stock valued at $7,928,856. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Atlantic Securities boosted their target price on shares of Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Barclays boosted their target price on shares of Johnson & Johnson from $171.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, July 24th. StockNews.com assumed coverage on shares of Johnson & Johnson in a report on Thursday, May 18th. They set a “strong-buy” rating on the stock. Citigroup assumed coverage on shares of Johnson & Johnson in a report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.80.

Read Our Latest Stock Report on Johnson & Johnson

Johnson & Johnson Stock Performance

NYSE JNJ opened at $173.85 on Friday. The company has a 50-day simple moving average of $164.56 and a two-hundred day simple moving average of $161.21. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04. The firm has a market cap of $451.83 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.90 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.18. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The business had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. During the same period in the prior year, the business posted $2.59 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Johnson & Johnson will post 10.75 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s dividend payout ratio (DPR) is 96.36%.

Johnson & Johnson Company Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.